Tag: wealth accumulation

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Letter To My Dad About Giving Away Money

by Tyrone Boucher
I wrote this letter to my dad as part of an ongoing dialogue we were having shortly before I turned 25 and began to get some access to the trust fund he set up for me. I wanted to explain why I planned to give away the money, why I thought it was important and useful, and why I wanted him to be involved.
Hey dad,
Thank you so much for your thoughtful response to my email! I read it several times, and I’m sure I’ll return to it frequently as I continue to think about this stuff. Everything you wrote about economics was really interesting, and gave me a lot to think about in terms of how I view wealth accumulation. I have a lot of thoughts prompted in part by some really awesome books I’m reading right now about the racial wealth divide and political economy respectively, and I would really love to talk more this stuff as I finish those books and pull my thoughts together.
For right now, though, I want to respond to some of the more personal stuff you wrote – as well as bring up stuff that is really timely right now in regards to my giving and my own relationship to wealth.

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Privilege and Solidarity

I wrote this in June 2007. You can also print it out zine-style by clicking here: Privilege and Solidarity Zine PDF

HELLO.

I wrote this zine for a few reasons. When I was growing up, I knew my family had money but I didn’t really get the concept of “privilege.” Then I became an activist and started thinking about systems of power and oppression and how privilege played a role in them. I started thinking about my own privilege, mostly as a white person, and about how I could challenge the racist systems that gave me privilege while others were oppressed. Then I started thinking about class privilege, and about how I was raised with a lot of it, and about what that meant. Somewhere in the midst of that, I learned that I had a $400,000 trust fund and became incredibly self-conscious about it. Then I realized, mostly through the urging of smart friends and fellow activists, that it was useless (and counter-productive) to try to hide or otherwise not deal with my class privilege, and I started thinking about how I could take responsibility for it in ways that reflected my values as an activist. Continue reading “Privilege and Solidarity”

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Accumulation vs. Redistribution

by Holmes Hummel

How does money pile up in the hands of a few?

My great-great-grandfathers accumulated wealth by claiming as their own the productivity of stolen land, captured people, and institutions organized by and for white Christian men. By contrast, the wealth inherited by my generation is accumulated today through investments in branded corporations that handle all the messy transactions of the global economy on our behalf as shareholders, paying dividends on the same types of systems that generated proceeds for my family’s lauded patriarchs.

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